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Real Estate News

With the arrival of June, mortgage rates seem to be declining, as is the volume of applications, according to one new statement. Other sources have said that the current housing market is fiercely competitive, with a tight inventory, and the news of application rates reflect this in a recent statement from the Mortgage Bankers Association.

June brings not just the beginning of the summer season but also the official end of the second quarter of 2017. As such, it's the start of a new part of the year, which may build off of the previous trends toward a scramble for purchases. More than one entity from the real estate industry seems to think that high demand is behind the current figures.

A May 2017 legal conclusion will likely affect the future of property owners and investors in Georgia, according to the Atlanta Journal-Constitution. The action, decided on May 15, is reportedly a stand against the "super lien," a situation where a homeowner could be forced to pay off existing debts faster after the property goes up to auction.

Despite a recent lag, it seems like the rate of housing construction so far this year may be a positive thing for the industry. Based on information from the Census Bureau, there may have been a noteworthy amount of building at the beginning of the year to justify some optimism, at least for the time being. Prospective buyers could use this information to judge the growth of residential housing as a whole, not just based on most recent statistics.

Lender's and owner's title insurance policies can both contribute to closing fees for property. New owners can therefore sometimes feel a need to cut corners to try and keep their costs down, but that's a risky thing to do when it comes to protecting a title claim. The range of policy costs can make it hard to predict the final sum.

With the current concerns over urban crowding, it's understandable that new buyers might want to keep their options open for places to live. However, as far as cities go, Philadelphia seems to be attracting attention. Compared to others, it may prove to be a more affordable and strategic place to purchase a home, according to new data from multiple sources.

The Mortgage Bankers Association survey results for the second week of May are out, and they seem to show a decline. Though it needs to be taken in context, it does possibly add to a continuous dip in application rates for mortgages, with some other statistics also following suit.

With June not far away, the middle point of 2017 is almost here. That gives professionals a chance to reflect on the market trends so far, as well as the most likely paths home sales and other market figures will take. On May 18, the National Association of Realtors released a statement on its Midyear Forecast, which showed some positive patterns, with high sales and conditions for more development.

Millennials face a lot of scrutiny, including when it comes to housing sales. Right now, opinions differ as to which generation is creating hurdles for the market, but multiple sources seem to think that age demographics are a divisive factor for the current crop of potential buyers. A key debate seems to be whether millennials or the older baby boomer generation is to blame for issues with sales.

The interests of Millennials as well as the longevity of older Americans are undoubtedly factors on current housing sales. Widespread opinions about aging, retirement and other milestones could continue to change, and force the housing market to evolve with it. It's possible that the needs of the upcoming seniors and middle-age buyers could influence how they handle their property.